LA CLAIMS ADJUSTER PROPERTY
AND CAUSALITY PRACTICE EXAM 2
A43single43Declarations43page43common43to43all43coverages
A43single43conditions43section43common43to43all43coverages43-43answer--
A43commercial43package43policy43always43includes
Send43the43insured43a43reservation43of43rights43letter43-43answer--
If43the43insured43fails43to43report43claim43in43a43timely43fashion,43the43adjuster43will43imm
ediately43___
$100043per43person43-43answer--The43basic43limit43for43coverage43F-
medical43payments43of43the43standard43homeowners43form43is43normally
$25043-43answer--
The43CGL43provides43up43to43___per43day43for43loss43of43earnings43as43a43supplementa
ry43payment
Was43made43for43the43benefit43of43the43insurance43company43and43does43not43warrant43
the43insureds43compliance43with43all43laws43and43regulations43-43answer--
The43insurance43company43chooses43to43inspect43the43insureds43premises,43the43insura
nce43inspection:
6043days.43-43answer--When43is43loss43payable43under43LA43standard43fire43policy?
3043days43-43answer--
When43an43insurer43has43received43a43completed43satisfactory43proof43of43loss,43how43
many43days43does43the43insurer43have43to43pay43the43loss
expediting43expense43coverage43-43answer--
name43the43coverage43that43applies43to43the43extra43cost43the43insured43incurs43to43mak
e43temporary43repairs43and43speed43up43the43permanent43repairs43replacement43of43da
mage43covered43equipment43under43an43equipment43breakdown43policy
,Until43the43repairs43are43complete43and43the43business43re-
opens,43subject43to43a431243consecutive43month43limitation43-43answer--
How43long43will43the43business43owner43policy43pay43for43the43"extra43expense43coverag
e"43used43to43reduce43the43loss43of43income43when43the43insured43has43suffered43a43los
s43from43a43covered43peril
handled43as43a43supplementary43payment43-43answer--
Typically43how43are43defense43cost43handled43under43aviation43policy
additional43living43expenses43is43included43in43this43coverage43as43well43as43fair43rental4
3value43-43answer--under43the43HO43policy,43loss43of43use43would43cover43what
6043days43prior43to43the43effective43date43-43answer--
Dwelling43forms43include43a43liberalization43clause.43it43says43that43any43revision43of43co
verage43which43broadens43the43insurance43without43an43additional43premium43charge43
will43be43automatically43applied43to43existing43policies43if43the43revision43adopted43durin
g43the43policy43period43or43within
Actual43Cash43Value43-43answer--
Equipment43breakdown43protection43coverage43form43normally43pays43replacement43co
st43unless43endorsed43to43pay43___
accidental43shooting43of43livestock43-43answer--
____is43covered43under43the43broad43dorm43farm43owners43policy43but43is43not43covere
d43under43the43basic43form43farm43owners43policy
2443-43answer--
In43keeping43with43the43terms43and43conditions43of43the43LAW43standard43Fire43Insuranc
e43policy43an43insured43may43file43suit43to43recover43for43a43loss43only43if43all43policy43re
quirements43have43been43compiled43with43and43only43if43the43suit43is43filed43within43__m
onths43of43the43date43of43loss
from43the43time43of43acquisition43and43up43to439043days43thereafter43-43answer--
CGL43newly43acquired43entity43how43long43will43the43new43entity43be43automatically43co
nsidered43insured43under43the43current43CGL
Reservation43of43rights43letter43-43answer--
what43does43the43insurer43do43when43the43insured43has43possibly43waived43his43or43her4
3rights43in43a43liability43claim
1043days43-43answer--
how43much43advance43notice43of43a43hearing43must43the43LA43insurance43commissioner
43give43to43affected43interested43parties
, $50043-43answer--
what43is43the43maximum43fine43for43each43violates43the43"immediate43contact"43rule43in43
LA
Freight43Insurance43-43answer--
This43ocean43marine43insurance43coverage43protects43the43vessel43owner43in43the43eve
nt43that43cargo43shipping43cost43are43not43paid
643months/43343-43answer--
To43protect43the43public,43the43commissioner43may43examine43a43domestic43insurer43ev
ery__43during43the43first43___years43of43organization
$25,00043-43answer--
What43is43the43limit43that43is43paid43for43water43damage43under43equipment43breakdown
43policy
15,000/30,000/25,00043-43answer--
In43order43to43satisfy43the43motor43vehicle43safety43responsibility43law43in43Louisiana,43w
hat43are43the43required43minimum43auto43limits43of43liability43a43person43must43carry
Garagekeepers43Legal43Liability43-43answer--
What43coverage43is43used43to43cover43the43damage43to43a43customers43vehicle43in43the4
3care43of43custody43of43a43repair43garage.
within433043days43following43the43receipt43of43such43demand43-43answer--
when43a43hearing43is43demanded43by43the43commissioner43of43insurance43in43Louisiana
n,43when43must43such43a43hearing43be43held?
Estoppel43-43answer--
If43an43insurance43company43covered43an43excluded43claim43it43may43have43to43continu
e43paying43other43such43claims43because43of
an43NFIP43dwelling43policy43under43the43regular43program43-43answer--
NFIP43polices43is43required43to43include43the43increased43cost43of43compliance43coverag
e
Reported43within43one43year43of43the43date43of43the43accident43-43answer--
In43a43CGL43policy,43"medical43payments"43claims43must43be
defense43-43answer--
The43policy43can43not43pay43more43then43its43limit43if43liability.43Under43supplemental43c
overages43in43the43policy43the43policy43will43pay43the43__43cost43plus43the43cost43of43pre
miums43on43appeal43bonds43and43bail43bonds
AND CAUSALITY PRACTICE EXAM 2
A43single43Declarations43page43common43to43all43coverages
A43single43conditions43section43common43to43all43coverages43-43answer--
A43commercial43package43policy43always43includes
Send43the43insured43a43reservation43of43rights43letter43-43answer--
If43the43insured43fails43to43report43claim43in43a43timely43fashion,43the43adjuster43will43imm
ediately43___
$100043per43person43-43answer--The43basic43limit43for43coverage43F-
medical43payments43of43the43standard43homeowners43form43is43normally
$25043-43answer--
The43CGL43provides43up43to43___per43day43for43loss43of43earnings43as43a43supplementa
ry43payment
Was43made43for43the43benefit43of43the43insurance43company43and43does43not43warrant43
the43insureds43compliance43with43all43laws43and43regulations43-43answer--
The43insurance43company43chooses43to43inspect43the43insureds43premises,43the43insura
nce43inspection:
6043days.43-43answer--When43is43loss43payable43under43LA43standard43fire43policy?
3043days43-43answer--
When43an43insurer43has43received43a43completed43satisfactory43proof43of43loss,43how43
many43days43does43the43insurer43have43to43pay43the43loss
expediting43expense43coverage43-43answer--
name43the43coverage43that43applies43to43the43extra43cost43the43insured43incurs43to43mak
e43temporary43repairs43and43speed43up43the43permanent43repairs43replacement43of43da
mage43covered43equipment43under43an43equipment43breakdown43policy
,Until43the43repairs43are43complete43and43the43business43re-
opens,43subject43to43a431243consecutive43month43limitation43-43answer--
How43long43will43the43business43owner43policy43pay43for43the43"extra43expense43coverag
e"43used43to43reduce43the43loss43of43income43when43the43insured43has43suffered43a43los
s43from43a43covered43peril
handled43as43a43supplementary43payment43-43answer--
Typically43how43are43defense43cost43handled43under43aviation43policy
additional43living43expenses43is43included43in43this43coverage43as43well43as43fair43rental4
3value43-43answer--under43the43HO43policy,43loss43of43use43would43cover43what
6043days43prior43to43the43effective43date43-43answer--
Dwelling43forms43include43a43liberalization43clause.43it43says43that43any43revision43of43co
verage43which43broadens43the43insurance43without43an43additional43premium43charge43
will43be43automatically43applied43to43existing43policies43if43the43revision43adopted43durin
g43the43policy43period43or43within
Actual43Cash43Value43-43answer--
Equipment43breakdown43protection43coverage43form43normally43pays43replacement43co
st43unless43endorsed43to43pay43___
accidental43shooting43of43livestock43-43answer--
____is43covered43under43the43broad43dorm43farm43owners43policy43but43is43not43covere
d43under43the43basic43form43farm43owners43policy
2443-43answer--
In43keeping43with43the43terms43and43conditions43of43the43LAW43standard43Fire43Insuranc
e43policy43an43insured43may43file43suit43to43recover43for43a43loss43only43if43all43policy43re
quirements43have43been43compiled43with43and43only43if43the43suit43is43filed43within43__m
onths43of43the43date43of43loss
from43the43time43of43acquisition43and43up43to439043days43thereafter43-43answer--
CGL43newly43acquired43entity43how43long43will43the43new43entity43be43automatically43co
nsidered43insured43under43the43current43CGL
Reservation43of43rights43letter43-43answer--
what43does43the43insurer43do43when43the43insured43has43possibly43waived43his43or43her4
3rights43in43a43liability43claim
1043days43-43answer--
how43much43advance43notice43of43a43hearing43must43the43LA43insurance43commissioner
43give43to43affected43interested43parties
, $50043-43answer--
what43is43the43maximum43fine43for43each43violates43the43"immediate43contact"43rule43in43
LA
Freight43Insurance43-43answer--
This43ocean43marine43insurance43coverage43protects43the43vessel43owner43in43the43eve
nt43that43cargo43shipping43cost43are43not43paid
643months/43343-43answer--
To43protect43the43public,43the43commissioner43may43examine43a43domestic43insurer43ev
ery__43during43the43first43___years43of43organization
$25,00043-43answer--
What43is43the43limit43that43is43paid43for43water43damage43under43equipment43breakdown
43policy
15,000/30,000/25,00043-43answer--
In43order43to43satisfy43the43motor43vehicle43safety43responsibility43law43in43Louisiana,43w
hat43are43the43required43minimum43auto43limits43of43liability43a43person43must43carry
Garagekeepers43Legal43Liability43-43answer--
What43coverage43is43used43to43cover43the43damage43to43a43customers43vehicle43in43the4
3care43of43custody43of43a43repair43garage.
within433043days43following43the43receipt43of43such43demand43-43answer--
when43a43hearing43is43demanded43by43the43commissioner43of43insurance43in43Louisiana
n,43when43must43such43a43hearing43be43held?
Estoppel43-43answer--
If43an43insurance43company43covered43an43excluded43claim43it43may43have43to43continu
e43paying43other43such43claims43because43of
an43NFIP43dwelling43policy43under43the43regular43program43-43answer--
NFIP43polices43is43required43to43include43the43increased43cost43of43compliance43coverag
e
Reported43within43one43year43of43the43date43of43the43accident43-43answer--
In43a43CGL43policy,43"medical43payments"43claims43must43be
defense43-43answer--
The43policy43can43not43pay43more43then43its43limit43if43liability.43Under43supplemental43c
overages43in43the43policy43the43policy43will43pay43the43__43cost43plus43the43cost43of43pre
miums43on43appeal43bonds43and43bail43bonds
